[AMC]-The Official Active Mining Cooperative Discussion

[Vbs]

I understand. I did not know that is not supported by BitFunder. Maybe we can ask exchange owner Ukyo to take a look into this and make some changes? I know it's a long shot but if we can get this implemented where only sold shares would get dividends it would be great.

Yes. That would be the best choice. The current workaround is to only create those shares in small batches as they are being bought, so a minimum amount of "unissued" shares exist.

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[auto2nr1]

I understand. I did not know that is not supported by BitFunder. Maybe we can ask exchange owner Ukyo to take a look into this and make some changes? I know it's a long shot but if we can get this implemented where only sold shares would get dividends it would be great.

Yes. That would be the best choice. The current workaround is to only create those shares in small batches as they are being bought, so a minimum amount of "unissued" shares exist.

Looks like that is the only way. Ken can put up small walls at a fixed price and as those shares start to disappear he can make more available until he feels enough capital has been raised. Thanks for the explanation VBS.

[Vbs]

Looks like that is the only way. Ken can put up small walls at a fixed price and as those shares start to disappear he can make more available until he feels enough capital has been raised. Thanks for the explanation VBS.

Np. I'm welcoming the feeling of typing anything here and it not disappearing behind 3 pages, just 5 minutes later!

[Thalum]

Phew, so I'm not mad then! And yes, I think it would be best that Uyko be approached and asked to implement something like this. So it seem that unsold shares receiving dividends seems to be a product of bitfunder's architecture, but I think that it needs to be dealt with. I'm not sure whether making small batches of shares available is the right way to go though. Companies should know roughly how much money it needs for various expenses. As such, it would be good to know from Ken what the company's accounts look like: how much has been raised thus far, what the total assets are, future outgoings, etc etc etc, so we get a fuller idea of where we need to be heading in the future.

Look at this eh? Crowd-sourced business enterprises!

[SoylentCreek]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

[Entropy-uc]

Look I'm no rocket scientist but what sort of company holding lots of peoples money has it's structure organized and formulated by some random strangers on an internet thread?

Think about it - your money is in the hands of a company with NO CLUE.

If they can't sort out their own share structure (and have already F-ed up bigtime once already) HOW THE HELL ARE THEY GOING TO MAKE MILLIONS WITH INCREDIBLY COMPLEX ASIC MACHINES? BLF has a team of complete experts yet look at the trouble, the delays, the let downs. How do you think one guy from Springfield who used to run a web hosting server in his garage do? If he's no scammer then he is a very very naive and incompetent businessman. If you want to invest in success you need to invest in talent. I don't see any here.

You are vastly overstating BFL's competence.  But you are on the edge of an important question for evaluating an investment.

The real question to ask is:

If someone with as few qualifications as Ken can deliver ASICs, how many others will have custom chips available?

[lewicki]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

Enacting a board will go a long way in stamping peculiarities out.

[Thalum]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

Enacting a board will go a long way in stamping peculiarities out.

+1

It also spreads the load somewhat.

[kslaughter]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

Enacting a board will go a long way in stamping peculiarities out.

+1

It also spreads the load somewhat.

When we put out the 2M shares, the price was above our ask.

[matuszed]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

Enacting a board will go a long way in stamping peculiarities out.

+1

It also spreads the load somewhat.

When we put out the 2M shares, the price was above our ask.

True.  The market was a little under .0040 before the ask wall went up.

[lewicki]

I wonder if there should be somewhere in the contract that states that VMC cannot issue new shares to the market at a certain percentage above current market value.  Many investors, myself included, were facepalming really hard when Ken dropped 2,000,000 shares out there at three times the value of what they were currently going for.  Thoughts?

Enacting a board will go a long way in stamping peculiarities out.

+1

It also spreads the load somewhat.

When we put out the 2M shares, the price was above our ask.

I think in hindsight though, a lot of energy(money) was wasted to move the price from .008 to .04 then back to .0025. AMC didn't catch any of that (all profits went to flippers). Once AMC released the shares, they then had to fight tooth and nail against everyone to bought between .0008 and .0025.

[lolstate]

If someone with as few qualifications as Ken can deliver ASICs, how many others will have custom chips available?

 

You're back Entropy? I assumed after you deleted your earlier spam posts on this thread, you had gone for good. You can't pretend it never happened, plenty of people read them and remember your FUD. 

Next up: Entropy sees the light, starts pumping AMC to increase the value of his holdings  .

[lolstate]

I understand. I did not know that is not supported by BitFunder. Maybe we can ask exchange owner Ukyo to take a look into this and make some changes? I know it's a long shot but if we can get this implemented where only sold shares would get dividends it would be great.

Yes. That would be the best choice. The current workaround is to only create those shares in small batches as they are being bought, so a minimum amount of "unissued" shares exist.

Looks like that is the only way. Ken can put up small walls at a fixed price and as those shares start to disappear he can make more available until he feels enough capital has been raised. Thanks for the explanation VBS.

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

[oaxaca]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here. 

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

[kslaughter]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here. 

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

[auto2nr1]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here. 

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us.

[kslaughter]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here. 

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us.

It will be as soon as I can get everything put together.  However, I am going to take a few days off for the 4th.  Going down to Branson for a few days.  It will still be a working vacation as there are few details we will have to wrap up on Friday concerning our Avalon clone prototypes.

[lolstate]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here.  

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us.

It will be as soon as I can get everything put together.  However, I am going to take a few days off for the 4th.  Going down to Branson for a few days.  It will still be a working vacation as there are few details we will have to wrap up on Friday concerning our Avalon clone prototypes.

Ken, maximise your downtime, don't feel obliged to work on VMC 24/7 when holidays are calling. We all appreciate what you have done so far, it is very impressive.

[kslaughter]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here.  

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us.

It will be as soon as I can get everything put together.  However, I am going to take a few days off for the 4th.  Going down to Branson for a few days.  It will still be a working vacation as there are few details we will have to wrap up on Friday concerning our Avalon clone prototypes.

Ken, maximise your downtime, don't feel obliged to work on VMC 24/7 when holidays are calling. We all appreciate what you have done so far, it is very impressive.

Thanks! 

[auto2nr1]

I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?

Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.

1. Bitfunder allows transfers between accounts, you could just sell them here. 

2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem.

Yes, this is a good idea, I will keep it in mind.

When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us.

It will be as soon as I can get everything put together.  However, I am going to take a few days off for the 4th.  Going down to Branson for a few days.  It will still be a working vacation as there are few details we will have to wrap up on Friday concerning our Avalon clone prototypes.

That sounds great. We all need to take a break and enjoy the 4th. I think we all deserve a much needed getaway. It's time to relax and enjoy time with our friends and family. Enjoy your time off and we hope to hear back from you after the weekend. Once again just want to mention that we've made great progress with the help of Ken as well as other shareholders and potential investors that put their thoughts into what will soon be our game plan. Can't wait to get things set in stone and throw some more coins into the venture.